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Started By
Message
re: mortgage interest rates
Posted on 3/20/20 at 5:41 pm to wutangfinancial
Posted on 3/20/20 at 5:41 pm to wutangfinancial
He is correct
1
Posted on 3/20/20 at 6:14 pm to HYDRebs
quote:
Major concern starting to pop up though. Even if you are locked in can you close? Operations in CA and PA have shutdown due to title companies not being able to close due to citizen restrictions and appraisers can't go out to the properties.
at least in Ca, the restrictions are mostly for retail businesses, and there are a ton of exceptions. One of which is for financial institutions, which is very broad.
Posted on 3/20/20 at 6:43 pm to ellesssuuu
He isn't wrong but the real problem is in the bond market.
Posted on 3/20/20 at 8:51 pm to TigerDeBaiter
quote:
These mortgage rates are complete bullshite right now.
I crunched the numbers and the difference in interest paid would be close to 100k over 30 years for the house we are buying.
This post was edited on 3/20/20 at 8:52 pm
Posted on 3/20/20 at 9:26 pm to HYDRebs
quote:
Operations in CA and PA have shutdown due to title companies not being able to close due to citizen restrictions and appraisers can't go out to the properties.
Title companies are all open in CA and so are Recorder offices as they are considered essential
Same with notaries and appraisers. There may be a slow down but we are open
The main issue is lenders. UWM is in big trouble (biggest FHA and VA lender)
4 Non Qm lenders just went down today and everyone has raised rates from 4s to 6s just today. Huge Private Equity firm just went down also
This reminds me of 2008
Posted on 3/24/20 at 2:53 pm to mylsuhat
quote:Closed today!!!
I locked in at 2.625% for 15 years!
Stoked
Went from a 4.25% for 30 years and saving $85k in interest!
Posted on 3/27/20 at 7:58 am to mylsuhat
Locked several yesterday below 3.0% on a 15 year loan if people are still looking
Posted on 3/27/20 at 8:06 am to ellesssuuu
quote:
Locked several yesterday below 3.0% on a 15 year loan if people are still looking
Good news what is the closing cost?
Posted on 3/27/20 at 8:11 am to ellesssuuu
quote:
ellesssuuu
In your opinion, are 15yr rates going to drop under 2.5%? Or is that somewhat of a floor?
Posted on 3/27/20 at 9:18 am to ellesssuuu
Alright here’s a question because I’m dumb. My current rate is 3.75 on a 30yr and I locked in a 2.65 15yr last week. I asked my wife to do the math because she’s the smart one, but she’s been dragging her feet and I’m tired of asking her.
I owe 171k and been paying on this for 8 years.
New loan I would owe 178k for 15yrs.
I don’t know if I should take the loan or just pay the $300 extra a month that the new loan would be on my existing loan?
I owe 171k and been paying on this for 8 years.
New loan I would owe 178k for 15yrs.
I don’t know if I should take the loan or just pay the $300 extra a month that the new loan would be on my existing loan?
This post was edited on 3/27/20 at 9:19 am
Posted on 3/27/20 at 9:22 am to SuddenJerk
So if I’m understanding your question, you are paying $7k in closing costs?
If so, it might make sense to keep the current loan (for flexibility) and make extra payments.
If so, it might make sense to keep the current loan (for flexibility) and make extra payments.
This post was edited on 3/27/20 at 9:24 am
Posted on 3/27/20 at 9:23 am to SuddenJerk
If that’s your concern then just pay it off early.
Or don’t and take that extra money you are saving and invest it wisely.
Win-win
Or don’t and take that extra money you are saving and invest it wisely.
Win-win
Posted on 3/27/20 at 4:23 pm to 632627
I don’t see that low. 2.625 today
Posted on 3/27/20 at 6:23 pm to ellesssuuu
What is 20 and 30 year currently? Was a day short locking in 3.1 for a 20 a couple weeks ago.
Posted on 3/27/20 at 6:27 pm to Arkapigdiesel
quote:
He responded back a few hours later that the 15 year rate has gone up to 2.75%.
That's a fooking good rate. I'd take it
Posted on 3/27/20 at 7:16 pm to ellesssuuu
I locked in at 30 year/3.625 for refinance with $60,000 cash out. No points. Can you beat that?
Posted on 3/27/20 at 8:19 pm to LSU28605
I closed today on my 3.0 for 30y 170k cash out refi. I locked in on the best day a cpl weeks ago tho. That situation timed it’s self perfectly, I hope it comes back around for everyone.
Posted on 3/27/20 at 8:56 pm to LSU28605
What’s your score, loan amount, and appraised value?
Posted on 3/27/20 at 9:02 pm to ellesssuuu
For a 20 year? Hate my lender.
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